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Decision details

Quarter 3 Financial Performance Report 2018/19

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

The Leader of the Council delegated authority to the Cabinet to make the following decisions.

 

RESOLVED:

 

1.    Note the current revenue outturn forecast at the end of the third quarter of 2018/19 of £2.8m, this is before exceptional items of £2.666m, resulting in a total overspend of £5.466m. If the £5.466m is not reduced by the end of the year up to £5.5m will need to be drawn down from earmarked reserves in 2018/19.  Reserves will then be replenished reserves in 2019/20 from the anticipated collection fund surplus and dividend payable to the Council by Brick by Brick, which forms part of the draft 2019/20 budget.

 

2.    Note the ongoing engagement with and lobbying of Government by the Council for additional funding for Croydon, both in general terms and specifically Unaccompanied Asylum Seeking Children given Croydon’s gateway status, fire safety measures and mitigation of the impact of the Universal Credit implementation.

 

3.    Note the HRA position of a £1.87m forecast underspend against budget.

 

4.    Note the capital outturn projection of £373.316m, forecast to be an underspend of £74.684m against budget.

Report author: Lisa Taylor

Publication date: 15/03/2019

Date of decision: 25/02/2019

Decided at meeting: 25/02/2019 - Cabinet

Accompanying Documents: